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ABM Industries reports 1Q loss

NEW YORK (AP) _ ABM Industries Inc. (ABM) on Tuesday reported a fiscal first-quarter loss of $56.8 million, after reporting a profit in the same period a year earlier.

The New York-based company said it had a loss of $1 per share. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The provider of cleaning and other maintenance services for commercial buildings, hospitals and airports posted revenue of $1.33 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.31 billion.

ABM Industries expects full-year earnings in the range of $1.80 to $1.90 per share.

ABM Industries shares have declined 1.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.22, an increase of 30 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABM at https://www.zacks.com/ap/ABM

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Keywords: ABM Industries, Earnings Report